IRIS Accounts Production v23.1.0.753 04191047 director 1.6.22 31.5.23 31.5.23 false true false false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pure041910472022-05-31041910472023-05-31041910472022-06-012023-05-31041910472021-05-31041910472021-06-012022-05-31041910472022-05-3104191047ns15:EnglandWales2022-06-012023-05-3104191047ns14:PoundSterling2022-06-012023-05-3104191047ns10:Director12022-06-012023-05-3104191047ns10:PrivateLimitedCompanyLtd2022-06-012023-05-3104191047ns10:SmallEntities2022-06-012023-05-3104191047ns10:AuditExempt-NoAccountantsReport2022-06-012023-05-3104191047ns10:SmallCompaniesRegimeForDirectorsReport2022-06-012023-05-3104191047ns10:SmallCompaniesRegimeForAccounts2022-06-012023-05-3104191047ns10:FullAccounts2022-06-012023-05-310419104712022-06-012023-05-3104191047ns10:CompanySecretary12022-06-012023-05-3104191047ns10:RegisteredOffice2022-06-012023-05-3104191047ns5:CurrentFinancialInstruments2023-05-3104191047ns5:CurrentFinancialInstruments2022-05-3104191047ns5:Non-currentFinancialInstruments2023-05-3104191047ns5:Non-currentFinancialInstruments2022-05-3104191047ns5:ShareCapital2023-05-3104191047ns5:ShareCapital2022-05-3104191047ns5:RetainedEarningsAccumulatedLosses2023-05-3104191047ns5:RetainedEarningsAccumulatedLosses2022-05-3104191047ns5:IntangibleAssetsOtherThanGoodwill2022-06-012023-05-3104191047ns5:LandBuildings2022-06-012023-05-3104191047ns5:PlantMachinery2022-06-012023-05-3104191047ns5:IntangibleAssetsOtherThanGoodwill2022-05-3104191047ns5:IntangibleAssetsOtherThanGoodwill2023-05-3104191047ns5:IntangibleAssetsOtherThanGoodwill2022-05-3104191047ns5:LandBuildings2022-05-3104191047ns5:PlantMachinery2022-05-3104191047ns5:LandBuildings2023-05-3104191047ns5:PlantMachinery2023-05-3104191047ns5:LandBuildings2022-05-3104191047ns5:PlantMachinery2022-05-3104191047ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-05-3104191047ns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-05-31
REGISTERED NUMBER: 04191047 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2023

FOR

HI-TEC DIAMOND DRILLING LIMITED

HI-TEC DIAMOND DRILLING LIMITED (REGISTERED NUMBER: 04191047)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


HI-TEC DIAMOND DRILLING LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2023







DIRECTOR: Mr R B D Wilde



SECRETARY: Mrs M M Wilde



REGISTERED OFFICE: Copia House
Great Cliffe Court
Great Cliffe Road
Barnsley
South Yorkshire
S75 3SP



REGISTERED NUMBER: 04191047 (England and Wales)



ACCOUNTANTS: Reed Smith Accountancy Limited
Chartered Certified Accountants
Copia House
Great Cliffe Court
Great Cliffe Road
Barnsley
South Yorkshire
S75 3SP



BANKERS: National Westminster Bank Plc
26 Market Hill
Barnsley
Yorkshire
S70 2QE

HI-TEC DIAMOND DRILLING LIMITED (REGISTERED NUMBER: 04191047)

STATEMENT OF FINANCIAL POSITION
31 MAY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Property, plant and equipment 5 215,702 198,809
215,702 198,809

CURRENT ASSETS
Inventories 35,389 29,939
Debtors 6 267,095 207,557
Cash at bank 467,207 448,071
769,691 685,567
CREDITORS
Amounts falling due within one year 7 229,066 212,724
NET CURRENT ASSETS 540,625 472,843
TOTAL ASSETS LESS CURRENT
LIABILITIES

756,327

671,652

CREDITORS
Amounts falling due after more than one
year

8

(7,498

)

-

PROVISIONS FOR LIABILITIES (49,064 ) (34,042 )
NET ASSETS 699,765 637,610

CAPITAL AND RESERVES
Called up share capital 20 20
Retained earnings 699,745 637,590
SHAREHOLDERS' FUNDS 699,765 637,610

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

HI-TEC DIAMOND DRILLING LIMITED (REGISTERED NUMBER: 04191047)

STATEMENT OF FINANCIAL POSITION - continued
31 MAY 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 12 February 2024 and were signed by:





Mr R B D Wilde - Director


HI-TEC DIAMOND DRILLING LIMITED (REGISTERED NUMBER: 04191047)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

1. STATUTORY INFORMATION

Hi-Tec Diamond Drilling Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost
less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Alterations to leasehold property - Straight line over 10 years
Plant and machinery etc - Straight line over 5 years and Straight line over 4 years

Government grants
The company recognises government grants based on the accrual model.

Grants relating to revenue are recognised in income on a systematic basis over the periods in which the related costs, for which the grant is intended to compensate, are recognised.

Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset.

Stocks
Inventories and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing inventories to their present location and condition.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.


HI-TEC DIAMOND DRILLING LIMITED (REGISTERED NUMBER: 04191047)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2023

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Research and development
Expenditure on research and development is written off in the year in which it is incurred.


Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Employee benefits
Short-term employee benefits are recognised as an expense in the period in which they are incurred.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 17 (2022 - 17 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 June 2022
and 31 May 2023 766
AMORTISATION
At 1 June 2022
and 31 May 2023 766
NET BOOK VALUE
At 31 May 2023 -
At 31 May 2022 -

HI-TEC DIAMOND DRILLING LIMITED (REGISTERED NUMBER: 04191047)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2023

5. PROPERTY, PLANT AND EQUIPMENT
Alterations
to Plant and
leasehold machinery
property etc Totals
£    £    £   
COST
At 1 June 2022 18,024 921,474 939,498
Additions - 118,516 118,516
Disposals - (23,400 ) (23,400 )
At 31 May 2023 18,024 1,016,590 1,034,614
DEPRECIATION
At 1 June 2022 7,815 732,874 740,689
Charge for year 1,803 80,820 82,623
Eliminated on disposal - (4,400 ) (4,400 )
At 31 May 2023 9,618 809,294 818,912
NET BOOK VALUE
At 31 May 2023 8,406 207,296 215,702
At 31 May 2022 10,209 188,600 198,809

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 223,527 165,151
Other debtors 43,568 42,406
267,095 207,557

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 61,310 36,338
Taxation and social security 61,106 62,209
Other creditors 106,650 114,177
229,066 212,724

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Other creditors 7,498 -

9. ULTIMATE CONTROLLING PARTY

The controlling party is Mr R B D Wilde.